Gold prices at the beginning of the week yesterday fell slightly as they were affected by the recovery of the USD and rising bond yields, while investors looked forward to economic data and comments from US Federal Reserve officials. (Fed) to know more about the roadmap to cut interest rates.
In this context, it is forecasted that gold price may move sideways in the range of 2,300 to 2,335 USD.
This week, US retail sales data, weekly jobless claims and purchasing managers' indexes are expected to provide further clues about the direction of the Fed's interest rates.
Although there have not been any major fluctuations, precious metals are still supported by hopes that sooner or later the Fed will have to pivot its policy. In addition, political instability in France also increased risk aversion globally, helping to boost shelter demand for the precious metal.
In this context, it is forecasted that gold price may move sideways in the range of 2,300 to 2,335 USD.
This week, US retail sales data, weekly jobless claims and purchasing managers' indexes are expected to provide further clues about the direction of the Fed's interest rates.
Although there have not been any major fluctuations, precious metals are still supported by hopes that sooner or later the Fed will have to pivot its policy. In addition, political instability in France also increased risk aversion globally, helping to boost shelter demand for the precious metal.
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